Marijuana Becomes Legal in California: Last Steps

Initial approval has been won by a bill looking to legalize the use and sale of marijuana across California, on Tuesday, from a legislative committee, and the development is being seen by many as a purely symbolic vote as a second committee which has been set up would not look at it for quite some time to come.

The measure was voted 4-3 by the state Assembly's Public Safety Committee, and with the new legislation, marijuana would be controlled by taxes just like alcohol is. But the measure still needs to be approved by the Health Committee by Friday, so the full Assembly can continue to consider it.

Despite the fact that the voting is being considered mostly symbolic, supporters of the bill are considering this to be an important step forward. ''We're thrilled. This to me, this is the formal beginning of the end of marijuana prohibition in the United States", said Stephen Gutwillig of the Drug Policy Alliance, a pro-legalization group.

Under the bill, California is looking to allow all those over 21 to legally "possess, grow and sell marijuana", and in return, the state would charge a fee of $50 per ounce and a 9% tax on the complete retail sales.

The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13